Scientific Games Corp, a maker of slot machines for casinos, will purchase larger rival Bally Technologies Inc for about $3.27 billion to expand its electronic and table games and online lottery businesses.The $83.30 per share cash offer represents a 38 percent premium to Bally's Thursday closing price of $60.17 on the New York Stock Exchange, the companies said on Friday.Bally shares were up at $80 in premarket trading. Scientific Games shares were up 23 percent at $10.50.The deal - valued at $5.1 billion, including debt - will also help Scientific Games expand in Australia, New Zealand, and the Pacific islands.
Bally Technologies, Inc. (Bally) is a global gaming company, which designs, manufactures, operates, and distributes advanced technology-based gaming devices, systems, server-based solutions, custom mobile applications, and interactive applications. Shares of BYI fell by 1.04% or $-0.63/share to $60.17. In the past year, the shares have traded as low as $56.50 and as high as $82.67. On average, 678820 shares of BYI exchange hands on a given day and today's volume is recorded at 1247547.
Scientific Games Corporation (Scientific Games) is a global supplier of solutions to lottery and gaming organizations worldwide. Shares of SGMS fell by 3.28% or $-0.29/share to $8.54. In the past year, the shares have traded as low as $8.28 and as high as $19.48. On average, 1149050 shares of SGMS exchange hands on a given day and today's volume is recorded at 1549034.
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